California Power Authority Issues Resource Investment Plan

California's Consumer Power and Conservation Financing
Authority released its energy resource investment plan last
week. Based on a number of gaps in the state's electricity
supply — including inadequate reserves of electrical capacity,
an inadequate diversity of fuels to provide the state's power,
and a lack of power choices for the state's consumers — the
power authority proposes a "cost-effective energy resource
investment strategy" based on "an aggressive investment in
energy efficiency and renewable energy resources." The
power authority proposes to provide 3,500 megawatts of
reserve electrical capacity by 2006 through investments in
energy efficiency, electrical load management, clean forms
of distributed generation, and renewable energy. By issuing
bonds for up to $5 billion, the authority plans to finance a
variety of projects, including 1,275 megawatts of new
generating capacity powered by renewable energy.

The power authority's investment plan was approved by its
board last Thursday and sent on to the California legislature.
See the power authority's Energy Resource Investment Plan (PDF 1.30 MB)
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